Firms falling behind on Emir clearing

Uncertainty over the exact timing of the introduction of the mandate has seen preparatory projects lose their momentum

Firms risk being unready for the European
clearing mandate when it takes effect next year, according to
lawyers and other experts who said the lack of a deadline has
meant companies are not focused on the job at hand.

The European Market Infrastructure
Regulation (Emir) which mandates clearing of certain swaps is
expected to bite in May or June of next year though no specific
date has been set.

But regulatory experts are warning the
lack of a date has recently seen some firms lose interest in
their preparation projects, which has in turn sparked fears
over a general unreadiness across Europe.

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